Establishes regulations for continuing care retirement communities in Hawaii.

This bill adds a new chapter to the Hawaii Revised Statutes to regulate continuing care retirement communities. It outlines requirements for providers, including licensing, financial reporting, and escrow accounts for entrance fees and deposits. The bill also details the process for approving expansions, changes in control, and mergers. It mandates that providers deliver disclosure statements to residents and maintain operating reserves. The bill establishes a Continuing Care Advisory Committee to advise the commissioner on industry matters.

Establishes regulations for continuing care retirement communities in Hawaii.

This bill adds a new chapter to the Hawaii Revised Statutes to regulate continuing care retirement communities. It outlines requirements for providers, including licensing, financial reporting, and escrow accounts for entrance fees and deposits. The bill also details the process for approving expansions, changes in control, and mergers. It mandates that providers deliver disclosure statements to residents and maintain operating reserves. The bill establishes a Continuing Care Advisory Committee to advise the commissioner on industry matters.